32 BANK
OF THE YEAR AWARD
SPONSORED BY HMT CORPORATE FINANCE WINNER HSBC
Above: The HSBC team
Right: Mark Haines (second left) and Mark Frettingham (centre) with Ian Henley and Andrew Thomson (right), and Mark Durden- Smith
If the category for Banker of the Year had been closely fought, then the title of Bank of the Year was even more hotly-contested.
There were nearly 50 nominations for the title, sponsored by HMT Corporate Finance, and competition was so tough that once again there were four shortlisted finalists.
Current holder of the title HSBC, already having achieved success with Richard Povey winning the individual title, was there again, together with Barclays, Lloyds and RBS.
The audience heard that HSBC’s teams in the Thames Valley and Southampton had had a busy year, with deals including support for the buyout of Britax Childcare; refinancing of The Cooper Companies; senior debt participation for Big Yellow Group; the MBO of Kerridge Commercial Systems and Box-it’s purchase of Stortext FM.
Among the highlights of the year for Barclays Corporate was its involvement in a syndicate of five banks supporting Chemring with a £230 million facility; the leading of a consortium funding the secondary buyout of Xafinity; funding for the refurbishment of Sparsholt College and acting as joint mandated lead arranger for a refinancing at Hogg Robinson Group.
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For Lloyds Bank Corporate Markets, the year saw a strong commitment to supporting local businesses. Deals included participation in the £30m refinancing of SemLogistics; the MBO of MatthewsDaniel; £4.2m funding to Grundon Waste Management and £44m of facilities to Alliance Pharma.
RBS’ successes during 2010 included being part of the banking club supporting the XLN Telecom sale; £50m facility for Chemring; £31m for Choice Care Group and the acquisition by Micheldever of Harris Brothers. At the same time, its structured finance teams completed some 24 deals, providing new debt of £215m-plus and creating a pipeline of £250m for 2011.
There were cheers as Andrew Thomson, HMT Corporate Finance partner, revealed that HSBC had once more taken the top spot – making it a triple crown, as the bank also won the Thames Valley award in 2008.
The team celebrated in style and Mark Haines, head of Corporate Banking, Thames Valley, commented: “We were delighted to be named as Bank of the Year once again and are very grateful to all of those who have nominated us and have supported our business.
THE BUSINESS MAGAZINE – THAMES VALLEY – MAY 2011
“Mark Frettingham and I are very lucky to have two great teams in Reading and Southampton and to be able to work with very dedicated colleagues around the world to serve our customers operating out of the Thames Valley and Solent regions.
“This is the third consecutive occasion on which we have won this award. This reflects the fact that we have remained very consistent in our approach to the market since the onset of the downturn in 2008 given our capital strength and our excellent liquidity position. It is also testament to the professionalism of our deal execution and client service teams as well as the various product specialists whom we are able to introduce to serve the needs of our clients.
“We want to build on our market-leading position and use our proven transaction execution capability to help support the continuing growth and development of the Thames Valley and Solent regions, which remain vibrant and offer tremendous opportunity.“
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